Title: U.S. Stock Market Closes Lower as Dow Ends Winning Streak
Date: July 27, 2022
The three major U.S. stock indexes opened higher on July 27 but eventually closed the day lower, with the Dow Jones Industrial Average (Dow) ending its 13-game winning streak. Despite the dip, analysts emphasize that this setback should be viewed within the context of a broader market trend.
By the closing bell, the Dow stood at 35,282.72 points, down 0.67%. The S&P 500 closed at 4,537.41 points, down 0.64%, while the Nasdaq Composite concluded at 14,050.11 points, down 0.55%.
Notably, there was a mix of performances within the large technology stocks sector. Tesla shares fell over 3%, with Netflix and Microsoft not far behind, experiencing declines of over 2%. Apple also experienced a drop of 0.66%. On the other hand, the parent company of Facebook, Meta, saw a rise of more than 4%, while Nvidia gained nearly 1%. Google A and Amazon also experienced slight increases.
Chinese concept stocks were largely impacted as most of them experienced declines. Bilibili and Jinshan Cloud both saw drops of nearly 7%, followed by Huya with a decline of over 5%. JD.com also experienced a decline of nearly 3%, whereas Vipshop, TAL, Tencent Music, and Ctrip all fell over 2%. Furthermore, NetEase, Alibaba, and Baidu recorded declines of more than 1%. However, iQiyi saw a rise of over 4%, and Xiaopeng Motors experienced a gain of nearly 4%.
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